Cars for export and import are stored in front of containers on May 16 at the harbor in Bremerhaven, Germany. (Martin Meissner/AP)

WASHINGTON — Caught in a sprawling trade dispute with U.S. rival China, President Donald Trump decided against declaring commercial war on America's friends: The White House said May 17 that he is delaying for six months any decision to slap import taxes on foreign cars, a move that would hit Europe and Japan especially hard.

Diesel costs 7.9 cents less than it did a year ago, the Department of Energy said. (Getty Images)

The U.S. average retail price of diesel fell 1.1 cents to $3.160 a gallon. Oil prices slipped to $61 a barrel as the United States and China imposed higher tariffs on the other’s goods, which chilled the outlook for demand.

Chinese Vice Premier Liu He outside the Office of the U.S. Trade Representative in Washington on May 10. (Alex Edelman/Bloomberg News)

President Donald Trump’s administration told China it has a month to seal a trade deal or face tariffs on all its exports to the Unites States, even as both sides sought to avoid a public breakdown in negotiations despite a developing stalemate.

President Donald Trump speaks at the White House on May 9. (Joshua Roberts/Bloomberg News)

The United States hiked tariffs on more than $200 billion in goods from China on May 10 in the most dramatic step yet of President Donald Trump’s push to extract trade concessions, deepening a conflict that has roiled financial markets and cast a shadow over the global economy.

Officials in the transportation industry warned that if President Donald Trump follows through on the threat of tariffs on imported truck and automobile parts, the effects could be devastating for jobs in the United States.